Sanford C. Bernstein Reiterates “Buy” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “buy” rating reiterated by investment analysts at Sanford C. Bernstein in a research note issued to investors on Friday,MarketScreener reports.

NFLX has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Netflix in a report on Wednesday, October 8th. Citigroup reissued a “neutral” rating and issued a $1,295.00 target price (up previously from $1,280.00) on shares of Netflix in a report on Friday, October 3rd. Phillip Securities downgraded Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Wedbush reissued an “outperform” rating on shares of Netflix in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,339.81.

Netflix Trading Up 1.3%

Shares of NASDAQ:NFLX opened at $1,199.36 on Friday. The company has a market cap of $509.64 billion, a P/E ratio of 51.10, a PEG ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix has a 1 year low of $736.23 and a 1 year high of $1,341.15. The stock’s fifty day moving average price is $1,213.47 and its 200-day moving average price is $1,177.58.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.88 earnings per share. Sell-side analysts expect that Netflix will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer owned 15,168 shares in the company, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,100 shares of company stock valued at $122,710,980. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Oak Harvest Investment Services lifted its stake in Netflix by 50.4% in the third quarter. Oak Harvest Investment Services now owns 2,975 shares of the Internet television network’s stock worth $3,566,000 after acquiring an additional 997 shares during the period. Austin Private Wealth LLC lifted its stake in Netflix by 2.4% in the third quarter. Austin Private Wealth LLC now owns 935 shares of the Internet television network’s stock worth $1,121,000 after acquiring an additional 22 shares during the period. Farmers & Merchants Investments Inc. lifted its stake in Netflix by 0.5% in the third quarter. Farmers & Merchants Investments Inc. now owns 5,665 shares of the Internet television network’s stock worth $6,792,000 after acquiring an additional 27 shares during the period. Range Financial Group LLC lifted its stake in Netflix by 2.8% in the third quarter. Range Financial Group LLC now owns 2,832 shares of the Internet television network’s stock worth $3,395,000 after acquiring an additional 77 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Netflix by 9.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 59,256 shares of the Internet television network’s stock worth $71,043,000 after acquiring an additional 4,946 shares during the period. 80.93% of the stock is currently owned by institutional investors.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.